Property Overview: 541 Ritchot Street, Central St. Boniface
Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home built in 1912, offering a grounded opportunity in the sought-after Central St. Boniface neighbourhood. Its primary appeal lies in its location and lot. The property sits on a 3,190 sqft lot that is notably larger than many city-wide averages, providing valuable outdoor space in a mature, established area. With 1,146 sqft of living space, the home itself is of average size for the locale, suggesting a manageable footprint.
The data indicates a significant value proposition: the home’s assessed value is well below the averages for the street, neighbourhood, and city. This, combined with its last known sale price from 2016, positions it as a potential entry point into a desirable community. The presence of a detached garage adds practical utility. It’s important to note the basement exists but is unrenovated, representing a clear opportunity for future customization or necessary updates.
This property would suit a specific type of buyer: a pragmatic first-time homebuyer or an investor looking for a character home in a prime location, who is prepared to take on a project. It’s for someone who values land and location over immediate move-in readiness and sees potential in a home that requires modernization.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean for this home?
This style typically features a full main floor and a second floor where the roofline slopes into the walls, creating cozy bedrooms with potentially lower ceilings in certain areas. It’s a charming, classic Winnipeg design common in older neighbourhoods.
2. The assessed value seems low. Does that mean the taxes are low?
Not necessarily. While a lower assessed value can influence property taxes, the final tax bill is determined by the municipal tax rate applied to that assessment. It’s best to inquire about the most recent annual tax amount for an accurate picture.
3. Is the unrenovated basement finished or usable?
The listing specifies it is "not renovated." This generally means it is in a rough, unfinished state (concrete floors and walls, exposed utilities). It offers blank-slate potential but will require investment to become finished living space.
4. How does the 2016 sale price relate to today’s asking price?
The 2016 price is historical context and is not indicative of current market value. Market conditions, property changes, and broader economic factors have likely shifted the value significantly since then.
5. The lot size is a highlight, but what about the home's condition?
The data emphasizes the land and value metrics. The age of the home (1912) and the unrenovated basement suggest that a thorough inspection is crucial to understand the condition of major systems like wiring, plumbing, and the foundation, which may require attention.